Kite Pharma Inc. (KITE) Given a $75.00 Price Target at Canaccord Genuity
Kite Pharma Inc. (NASDAQ:KITE) received a $75.00 target price from Canaccord Genuity in a research note issued on Tuesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s target price indicates a potential upside of 52.97% from the stock’s previous close.
Several other analysts have also recently commented on KITE. Vetr cut shares of Kite Pharma from a “hold” rating to a “sell” rating and set a $53.26 price objective for the company. in a research note on Monday, August 1st. Jefferies Group reiterated a “buy” rating on shares of Kite Pharma in a research note on Friday, August 5th. Maxim Group reiterated a “buy” rating and issued a $77.00 target price (down from $87.00) on shares of Kite Pharma in a research note on Tuesday, August 9th. Barclays PLC set a $60.00 target price on shares of Kite Pharma and gave the company a “hold” rating in a research note on Tuesday, August 9th. Finally, Mizuho set a $80.00 target price on shares of Kite Pharma and gave the company a “buy” rating in a research note on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $71.57.
Kite Pharma (NASDAQ:KITE) traded up 1.76% during trading on Tuesday, reaching $49.20. 400,655 shares of the company traded hands. Kite Pharma has a 52 week low of $38.41 and a 52 week high of $83.46. The firm has a 50-day moving average price of $48.48 and a 200-day moving average price of $52.52. The company’s market capitalization is $2.45 billion.
Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings data on Wednesday, November 9th. The biopharmaceutical company reported ($1.49) EPS for the quarter, beating the consensus estimate of ($1.63) by $0.14. Kite Pharma had a negative net margin of 994.89% and a negative return on equity of 39.26%. The business earned $7.34 million during the quarter, compared to analysts’ expectations of $4.94 million. During the same period in the previous year, the business posted ($0.38) EPS. The business’s quarterly revenue was up 43.1% compared to the same quarter last year. Analysts forecast that Kite Pharma will post ($5.56) earnings per share for the current fiscal year.
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In other Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $54.13, for a total value of $541,300.00. Following the transaction, the chief operating officer now owns 105,477 shares of the company’s stock, valued at $5,709,470.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $58.24, for a total transaction of $87,360.00. The disclosure for this sale can be found here. Insiders own 20.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in Kite Pharma by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 210,127 shares of the biopharmaceutical company’s stock worth $10,507,000 after buying an additional 8,655 shares during the last quarter. Rice Hall James & Associates LLC boosted its position in Kite Pharma by 1.4% in the second quarter. Rice Hall James & Associates LLC now owns 41,001 shares of the biopharmaceutical company’s stock worth $2,050,000 after buying an additional 580 shares during the last quarter. Capital Fund Management S.A. bought a new position in Kite Pharma during the second quarter worth approximately $249,000. Alps Advisors Inc. boosted its position in Kite Pharma by 27.5% in the second quarter. Alps Advisors Inc. now owns 69,016 shares of the biopharmaceutical company’s stock worth $3,451,000 after buying an additional 14,867 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Kite Pharma by 5.8% in the second quarter. American Century Companies Inc. now owns 300,160 shares of the biopharmaceutical company’s stock worth $15,008,000 after buying an additional 16,559 shares during the last quarter. 77.79% of the stock is currently owned by institutional investors.
Kite Pharma Company Profile
Kite Pharma, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products to eradicate cancer cells. The Company offers engineered autologous cell therapy (eACT), which is an approach to the treatment of cancer. It is conducting over four pivotal studies of its lead product candidate, KTE-C19, a CAR-based therapy.
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